EU pledges over $740 mln in aid to CAR

The European Union (EU) on Thursday pledged more than 700 million euros (about 744 million U.S. dollars) in aid to the Central African Republic (CAR) , a poor country coming out of one of the worst conflicts in its history.

The pledges were made at the Brussels International Conference for the CAR, which drew delegations from over 80 countries, international organizations and agencies.

The European Commission pledged 409 million euros for the period 2016-2020, while additional pledges from the bloc’s member states amounted to 298 million euros, according to a press release of the Commission.

Overall, with contributions from partners, the pledges to the CAR total 2.06 billion euros.

“Our EU pledge today will support the efforts of the national government’s ambitious reform agenda to give its population the peace, security and economic prosperity they deserve,” said EU foreign policy chief Federica Mogherini, who co-chaired the conference jointly with CAR President Faustin-Archange Touadera.

A substantial amount of the EU’s pledges, as well as a number of contributions from the international community, will be channeled through the Bekou Trust Fund, which was set up by the EU and a number of its’ member states in 2014.